E-Invoicing in Malaysia (Updates on 30 July 2024)

The IRB recently released the updated e-invoicing guidelines and specific guidelines on 30 July 2024. The following are the key changes:
 

1. IRB formally includes in the general guidelines that taxpayers with an annual turnover/revenue of less than RM150,000 will be exempted from e-Invoicing. Further conditions to be announced.
   
    
2. The timing to issue consolidated self-billed e-invoice is similar to the timing of issuance of consolidated e-invoice i.e. within 7 days after month end no a monthly basis.
   
    
3. There will be a six month interim relaxation period as below:

Taxpayers are allowed to adopt the following during the relaxation period:

1. issue consolidated e-Invoice for all activities and transactions
    
2. issue consolidated self-billed e-invoice for all self-billed circumstances
    
3. input any information / details in the “Description of Product or Service” field in the consolidated e-invoice or consolidated self-billed e-invoice
    
4. not to issue individual e-invoice or self-billed e-invoice, even if the buyer has made a request
    

Further, the IRB also stated that there will be no prosecution action to be taken during the interim relaxation period on non-compliance of the e-invoice requirement